DislikedCognitive bias is the inability to see the reality because there is a strong bias. I abandoned tech analysis long time ago, and that was by fare the best choice of my trading life, but I'm still amazed to see how many cases people just don't see what is in front of their eyes. Using one of last published charts as an example (this message is not - by any mean - directed to the author of that post), I find funny how strong the statement is about USD dropping because of the Head/shoulder formation, but just few bars back there was a very similar setup...Ignored
sometimes u have to correlate other currencies to know where DXY going and by watching EURO and DXY I know that DXY will break that neckline and fall
the question is if DXY break my neckline and start falling what are you going to say ? u will say its just luck ? or u will try to find a reason here and there to justify the drop ?
I said it since November that EURO will reach to 1.17 to 1.20 and in order to reach these numbers the DXY will go below 94 100%